Clarity GOLD Acquires Option to Purchase Fecteau Property
Vancouver, B.C. (CSE: CLAR, OTC: CLGCF, FSE: 27G)
CLARITY GOLD ACQUIRES OPTION TO PURCHASE FECTEAU PROPERTY
Vancouver, BC – November 22, 2022, Clarity Gold Corp. (“ Clarity” or the “ Company”) (CSE: CLAR, OTC:
CLGCF, FSE: 27G) is pleased to announce it has entered into an assignment and assumption agreement
dated November 21, 2022 (the “Assignment Agreement”) among Opus One Resources Corp (“Opus One”)
and the two original optionors (the “ Optionors”) pursuant to which Clarity has obtained the option to
acquire a 100% interest (the “Option ”) in the property known as the Fecteau Property located in the
Province of Quebec (the “Property”). Pursuant to the Assignment Agreement, Opus One has assigned all
of its rights and obligations with respect to a property option agreement dated June 20, 2016, as amended
September 29, 2020 (the “Original Option Agreement”) to the Company to acquire a 100% interest in the
Property.
Highlights of the Fecteau Property
• 30km east of Osisko Mining’s Windfall Lake Project and Bonterra Resources’ Gladiator Project
(Figure 1).
• Five new exploration targets generated from till sampling, some of which have been followed up
with an IP survey.
• Nine mineral showings including:
o Lac Fecteau Est: 2.42g/t Au over 2.65m, 1.82 g/t Au over 4.9m in drill core
o Buteux-Marceau: up to 4.11 g/t Au in grab samples
o Lac Pistolet: up to 1.08 g/t Au and 1.91% Cu in grab samples
o Desgagné: up to 1.00 g/t Au in a trench over massive sulphide
o Lac Fecteau Nord: 1.71 g/t Au over 1.5m in drill core
o Lac Fecteau Porphyry: up to 7.09 g/t Au in grab samples
The QP (as defined below) has not verified the results of the historic exploration and sampling on the
Fecteau Property. Additional sampling would be required to verify the data.
“With Osisko and Bonterra’s continued successes on this trend and the overarching tenure of gold in the
Abitibi as a whole, we are excited to continue our exploration in the belt and this project shows the
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mineralization, alteration and structural complexity that we look for.” Stated James Rogers, CEO “We are
excited to get to work advancing the targets Opus has diligently worked to define.”
Figure 1 Location map of the fecteau project within the Abitibi Greenstone Belt.
The Fecteau Property
• The Property consists of one claim block containing 107 claims for a total of 5,979.02 hectares in
the Urban-Barry Windfall mining district.
• The property is known to host two types of mineralization: VMS (Cu -Zn-Au) and mesothermal
gold. Both styles of mineralization will be targeted during the Company’s program.
• VMS targets are represented in the field by numerous gossans of semi -massive to massive
sulphides located along and near an east-west trending rhyolite-dacite contact observed over 10
km of strike. Past drilling near surface intersected anomalous copper- zinc intervals ass ociated
with anomalous gold.
• Mesothermal gold bearing quartz veins are observed at both ends of the property (western and
eastern portions) where the volcanic sequence is folded. East- west striking metric wide shear
veins developed parallel to the axial p lan of the folds. This drilling program will target potential
down dip or down plunge extensions of the known mineralization.
About the Assignment Agreement
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As consideration for the Option, the Company has agreed to pay Opus One a cash payment of $60,000,
payable within 15 days of the date of the Assignment Agreement.
Pursuant to the Assignment Agreement, the Company will assume all obligations of Opus One under the
Original Option Agreement to acquire the Property including, but not limited to, making certain payments
of cash and issuances of common s hares in the capital of the Company (each, a “ Clarity Share”) to the
Optionors and incurring certain exploration expenditures on the Property as follows:
Date Payments ($CAD) Share Issuances Exploration
Expenditures
On or before
December 31, 2022 - - $180,880
On or before
January 31, 2023 $37,500 $37,500 worth of
Clarity Shares -
On or before
December 31, 2023 $12,500 $12,500 worth of
Clarity Shares $200,000
The Clarity Shares will be issued at a price per Clarity Share equal to the closing price of such Clarity Shares
the Canadian Securities Exchange (the “CSE”) on the trading day immediately before the date of issuance,
subject to applicable securities laws and the policies of the CSE.
The Company agreed to pay an arms length finder an aggregate of 250,000 shares as a finder’s fee in
connection with the Assignment.
Qualified Person
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is a
Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects
and has reviewed the technical information in this news release.
About Clarity
Clarity Gold Corp. is a Canadian mineral exploration project generator company focused on the
acquisition, exploration and development of precious and base metals projects. The Company’s objective
is to identify, acquire and devel op gold-primary and base metals projects which have been overlooked,
underfinanced or have become non -core assets and fallen dormant. Clarity’s exploration mandate is
global and focused on countries with established legal and regulatory systems supporting mining
investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the
symbol “CLAR”.
Clarity also has title on three additional early-stage projects in British Columbia:
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• Empirical Gold Copper Molybdenite Property (10,518 ha) – Lillooet, B.C.
• Tyber Gold Copper Silver Property (928 ha) – Southeast Vancouver Island, B.C.
• Gretna Green Gold Copper Silver Property (1,331 ha) - Port Alberni, Vancouver Island, B.C.
To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: [email protected]
Website: www.claritygoldcorp.com
This news release contains forward-looking statements. All statements, other than statements of historical fact that
address activities, events or developments that the Company believes, expects or anticipates will or may occur in the
future are forward -looking statements. Forward- looking statements in this news r elease include statements
regarding: the proposed drilling program on the Property; the Company making the cash payment to Opus One in
consideration of the Option; the Company completing the required cash payments and issuances of Clarity Shares to
the Optionors; the Company incurring the expenditures on the Property; and the Company completing the payments,
Clarity Share issuances and expenditures on or before the dates indicated in the Option Agreement . The forward -
looking statements reflect management’s current expectations based on information currently available and are
subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in
the forward-looking statements including: that Company may not complet e the drilling program on the Property as
proposed; that the Company may not be able to make the payments, Clarity Share issuances, or incur the
expenditures on the Property; adverse market conditions; and other factors beyond the control of the parties .
Although the Company believes that the assumptions inherent in the forward- looking statements are reasonable,
forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not
be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ
materially from current expectations include general market conditions and other factors beyond the control of the
Company. The Company expressly disclaims any intentio n or obligation to update or revise any forward- looking
statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither appro ved nor disapproved of the
contents of this press release.